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Ashfaq wants to start his own business in 6 years. He needs to accumulate Rs 200,000 (today's Rs) in 6 years to sufficiently finance his
Ashfaq wants to start his own business in 6 years. He needs to accumulate Rs 200,000 (today's Rs) in 6 years to sufficiently finance his business. He assumes inflation will average 4%, and he can earn a 9% compound annual after-tax return on investments. What serial payment should Ashfaq invest at the end of the first year to attain his goal?
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